A Double-chain Blockchain with Economic Attributes and Network Constraints of Prosumer Transactions

Hongming Yang, Zefeng Yang, Sheng Xiang, Huan Zhao, Emmanuel Ackom

Research output: Contribution to journalJournal articleResearchpeer-review

Abstract

With the rapid development of distributed energy, traditional power consumers have been transformed into prosumers who both produce and consume power, and can conduct flexible peer-to-peer transactions. Blockchain is a distributed ledger technology suitable for peer-to-peer transactions. However, the single-chain blockchain cannot simultaneously support the network security check and decentralized power transactions. Therefore, a double-chain blockchain and the corresponding transaction model are proposed with the reorganization of the transaction chain and power chain. Peer-to-peer independent decision-making transactions are achieved through the transaction chain to maximize prosumer earnings. The security check and adjusted transaction scheme are achieved through the power chain with constraints. Based on the Ethereum blockchain development platform, peer-to-peer transactions are verified in the IEEE 14-node distribution network. The results show that the designed double-chain blockchain has higher transaction efficiency than the single-chain blockchain. The secure and autonomous transaction of prosumers can be supported by the proposed method.
Original languageEnglish
JournalIEEE Transactions on Industrial Informatics
ISSN1551-3203
DOIs
Publication statusAccepted/In press - 2023

Keywords

  • Blockchains
  • Peer-to-peer computing
  • Security
  • Decision making
  • Power markets
  • Network security
  • Informatics

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